Serbia continues rate increases
Inflation stalled in double-digit range as central bank battles “second-round effects”
The National Bank of Serbia ordered its tenth consecutive rate rise on January 12, adding 25 basis points to the policy rate. That rate is now 5.25%, up from 1% when the central bank began tightening policy at its April 2022 meeting.
In a statement, the NBS said that it was battling to “contain the second-round effects of cost-push pressures on price growth”. Serbian policy-makers said that international commodities prices remained a major upside risk, though they also said that local drought
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